Tickers discussed: SPY QQQ IWM FB AAPL AMZN GOOGL MSFT NFLX TSLA TLT KRE PTON RUN
The Daily Profit Compass provides stock market technical analysis for the stock market today and is focused on the indexes and FAAMGs. Key levels and trading locations are provided, along with trading plans and timely commentary to keep you on the right side of the trade.
Earnings
Mega Earnings week for MegaCap Tech. TSLA / MSFT / FB / AAPL / AMZN all report this week plus notables UPS / GE / MMM / V / BA / SPOT / CAT / MCD / XOM / CVX Plenty to keep us busy this week.
April Earnings Preview
While not comprehensive, the calendar highlights most of the big names scheduled to report this month beginning next week with the money center banks.
Companion Video
The video is a detailed technical review of the indexes and FATMAAN names. All the key trading levels are identified along with commentary and trade plans for each ticker. Run the video at 1.25x to reduce run time.
Find the Video HERE
Upgrades / Downgrades
Earnings Avalanche
Pivotal week for earnings as 7 of the top 10 S&P 500 names report.
M: TSLA T: AMD / V / MSFT / GOOGL W: AAPL / FB plus FOMC announcement TH: AMZN
Aside from TSLA which I consider a wild card, I expect the other megacap names to report good earnings. THe key of course is the market reaction to those earnings. Given all these earnings I think focusing on these names may offer some lucrative set ups if there are run ups into the prints.
The nice thing is that most of the names have clear levels to shoot against where you can anchor a long, then hopefully be in a position to raise stops along the way if price goes on a run. itol Yesterday President Biden introduced a massive climate initiative coupled with an equally massive proposal to partially pay for it.
THe potential fly in the ointment is the FOMC meeting right in the middle of everything on Wednesday.
INDEX CHARTS
A detailed walk-through of the levels and trading strategy for the indexes is given in the video ( link above) . The static charts are provided for reference. The FATMAAN names are also reviewed in the video.
SPY 2 hour
SPY 30 min
QQQ 2 Hour
QQQ 30 min
IWM 2 hour
$IWM 30 Min
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